As Lego competes for children’s attention against video games, YouTube and other digital distractions, its half-year profit declines
Lego A/S reported a sharp drop in half-year profit as it plowed money into opening new stores, creating new products and making digital investments in a bid to stay ahead of fast-changing consumer behavior.
The Danish toy-brick maker Tuesday reported its net profit for the six months to June 30 slumped 12% to 2.7 billion Danish kroner , while operating profit fell 16%. Revenue climbed 4% to 14.8 billion kroner, or 2% at constant currency.
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